Freddie Mac BorrowSmart℠

This program provided by Freddie Mac helps lower-income, first-time home-buyers purchase homes. Grants up to $2,500 will be offered to qualified first-time home-buyers to be used towards down payment and closing costs.

Highlights & Terms

  • Conventional, Home Possible® 1st mortgage
  • Minimum 3% down payment, which can be covered by grant
  • $1,000 grant for borrower(s) whose qualifying income is greater than 80% and less than or equal to 100% of the county area median income
  • $1,500 grant for borrower(s) whose qualifying income is greater than 50% and is less than or equal to 80% of county area median income
  • $2,500 grant for borrower(s) whose qualifying income is less than or equal to 50% of county area median income

Guidelines & Consideration

  • 1-unit principal residence only
  • Loan amounts up to $453,100
  • Home-ownership education program required for first-time home-buyers
  • Not available in all states, check with your Loan Officer for availability

Home Possible® is a registered trademark of Freddie Mac.

READY TO GET STARTED?

Fill out the form below and I will contact you about this program and other options available for first time buyers.

NOTE: First Home Mortgage Corporation does not share or sell your personal information with outside companies for promotional use.

    Connect With Us